Real Estate Agent Denied Bail for Aiding Multi-Crore Cyber Fraud

A 33-year-old real estate agent, Kamleshkumar Mali, has been refused bail by a special CBI court in Mumbai after being arrested for allegedly facilitating a cyber fraud of over ₹7.72 crore. The court stated that individuals who allow their bank accounts to be used for such criminal activities “cannot escape from the criminal liability.”

The special court rejected Mali’s bail plea, noting that he had played an active role in “committing the fraud and duping innocents.” According to the police, the incident began when a senior citizen received a call from someone posing as an official from the Telecom Regulatory Authority of India (TRAI) on July 4, 2025. The fraudster informed the elderly woman that bank accounts had been opened with Canara Bank using her identity documents and were involved in a money laundering case linked to Jet Airways founder Naresh Goyal.

The complainant then received a WhatsApp call from a person claiming to be a senior police inspector named Ajay Basariya. He threatened to freeze her bank accounts and arrest her if she did not cooperate in the “investigation.” Basariya further informed her that she was under “digital arrest.” Over time, the fraudster coerced her into selling shares and transferring over ₹7.72 crore to various bank accounts provided by him.

After the fraudsters had drained her life savings, they cut off communication with her. It was then that the woman realized she had been cheated and lodged a complaint with the cyber police. The investigating officers discovered that ₹65 lakh of the proceeds of the crime had been credited to a bank account in the name of Captown Realties Pvt Ltd, a company owned by Kamleshkumar Mali.

The prosecution informed the court that ₹2.72 crore was deposited in Mali’s bank account between July 1 and August 27, 2025, and the sum was later withdrawn. Mali’s defense, represented by advocate Tauqeer Siddiqee, argued that his client had been falsely implicated and deserved to be released on bail. Siddiqee claimed that Mali, working as a real estate agent, had allowed his friend and absconding accused, Kunal Athiya, to use his bank account in good faith. He further stated that Athiya had misused the account without Mali’s knowledge and that Mali was prepared to return the money credited to his bank accounts.

Public prosecutor Ramesh Siroya opposed the bail plea, contending that Mali had not provided satisfactory reasons for the amounts credited to his bank account and that further investigation was necessary. Siroya also mentioned that a substantial sum involved in the crime had not been recovered and that there were other accused persons who were still at large.

Special Judge AV Gujarathi rejected Mali’s bail plea, stating that it was “crystal clear” that he had facilitated the crime. The court noted that Mali had not filed a criminal complaint against Athiya for cheating him or misusing his bank account. Additionally, Mali’s bank account had been used in at least three cyber frauds, making it “clear that he was aware of the malafide intentions of the co-accused.”